• Kotak Group Shield Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    The Kotak Group Shield is a life insurance plan that covers and provides benefits for not only death but critical illness, disability or terminal illness as well. The comprehensive plans have to be chosen according to the needs of an individual who wishes to get the insurance. Insurance premiums can be paid one time or annually, half-yearly, quarterly or monthly.

    Eligibility Conditions for Kotak Group Shield

    Plan Options

    Easy Group Shield

    Group Shield plus Disability Benefit Group Shield

    Group Shield plus Disability Benefit Group Shield

    Group Size

    50 members

    50 members

    Age of Entry

    Min: 15 years and Max: Single Premium: 73 years, Regular premium: 70 years

    Min: 18 years and Max: Single Premium: 63 years, Regular premium: 60 years

    Cover Cease Age

    Maximum of up to 75 years

    Maximum of upto 65 years

    Cover Term

    Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

    Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

    Premium Payment Term

    Full policy term for both single premium or Regular premium

     

    Sum Assured

    For Easy Group Shield Min : Rs. 5,000 and Max : No. Limit and For Group Shield Min : Rs.25,000/- Max : No. Limit

    For Group Shield Plus Disability Benefit Min: Rs. 25,000 Max : No. Limit and For Group Shield Plus Critical Illness Min: Rs. 100,000 and Max : No. Limit

    Features of Kotak group Shield

    Plan Type

    Group Credit Level Cover Insurance Plan

     

    Basis

    Floater

     

    Policy Term

    Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

    Single Premium: Min: 2 years and Max: 30 years, Regular premium: Min: 5 years and Max: 30 years

    Coverage

    Kotak Group Shield provides protection not only in case of death of the insured but disability, Critical illness or terminal illness as well through various plans within this plan.

     
     

    There are five options to choose from, that include:

    Easy Group Shield

    Group Shield

    Group Shield Plus Disability Benefit

    Group Shield Plus Critical Illness Benefit

    Joint Life Option

     
     

    Options

    Benefit Given When

     

    Easy Group Shield

    Benefit On the first Death of any of the two lives

     

    Group Shield

    On Death or Terminal Illness (whichever occurs first) of any of the two lives.

     

    Group Shield plus Disability Benefit

    On Death or Terminal Illness or Accidental Permanent Disability (whichever occurs first) of any of the two lives.

     

    Group Shield plus Critical Illness

    On Death or Terminal Illness or Critical Illness (whichever occurs first) of any of the two lives.

         

    Free look Period

    15 days from the date of first premium reciept

     

    Premium Paying Modes

    Single Premium or Regular Premium

     

    Benefits of Kotak Group Shield

    • Easy sign-up Process: The procedure to be followed for this insurance application is easy and hassle-free.
    • Protects The Insured From Liabilities of Loan: It is also equivalent to an initial loan amount. In case of an unfortunate event the sum assured is sufficient enough to pay off loan liabilities.
    • Various Coverage Areas Based on Various Needs: Coverage provided for death or terminal illness or critical illness or disability which are based on the option selected. In the case of occurrence of the covered event, the insured, his family or nominees.
    • Tax Benefits: Tax benefits can be availed under Section 80C and Section 10 (10D) of Income Tax Act, 1961.

    How Kotak Group Shield Works

    There are 5 basic plans to choose from which include:

    1. Easy Group Shield
    2. Group Shield
    3. Group Shield Plus Disability Benefit
    4. Group Shield Plus Critical Illness Benefit
    5. Joint Life Option

    Each of these plans are based on their coverage area, which may include various aspects of the event for which the insured or their family member can reap the benefits. there are several exclusions under this category. You can check for the same in the terms and conditions section of the insurance brochure.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Kotak Group Shield Plan Reviews

  • Page 1 of 12 1 2 3 4 5
    • Kotak Life Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the Kotak, it also offers accidental benefits , I pay a premium of 42000 per year. After certain interval they will be applying a bonus amount which is good. Overall I never had any issues with their services so far and I make premium payments online. .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Kotak Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance with Kotak Life from last 2 years and it is a long term policy. I am happy with the returns and tax benefits of this policy. I pay my premium once in 3 months and i am convenient with the payment options. The maturity period for this policy is 10 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 14, 2018
    • Kotak Life Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I am having the Life insurance policy with the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE company. I got this policy around 14years ago. This policy has the tenure of 20years. I pay the premium amount of Rs,2500 every year once. The plan benefits and the coverage is good with this policy and i am satisfied using it .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 13, 2018
    • Kotak Life Life Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've been using the life insurance policy from Kotak Mahindra . I pay a premium of 70000 per annum. The main objective of this policy is to save on taxes. I never had any issues with their services. Overall it has been a good experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 07, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Life Insurance service is good. I have one policy with Kotak Mahindra for the tenure period is for 15 years. The online portal is good with Kotak Mahindra Life Insurance service. The payments will be deducted through Ecs. It was a good experience with Kotak Mahindra Life Insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Life Insurance service is good. I have one policy with Kotak Mahindra for the tenure period is for 15 years. The online portal is good with Kotak Mahindra Life Insurance service. The payments will be deducted through Ecs. It was a good experience with Kotak Mahindra Life Insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • Kotak Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken a term insurance with Kotak Life since 2011, it is a long term policy with the tenure period of 25 years. I pay a premium of Rs 12000 every year through net banking and i am convenient with the payment options. I have a health coverage of Rs 35 lakhs and accidental coverage of Rs 50 lakhs in this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 18, 2018
    • Kotak Life Life Insurance
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I have a Life insurance policy taken from Kotak Life, I got very good plan benefits on this policy, the policy is for 16 years, and I have to pay only for 8 years and I receive the money after 8 years. I pay the premium on yearly basis, over all I am happy with the policy and satisfied with it.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 12, 2018
    • Kotak Life Life Insurance
      "Better policy to use"
      0.5 4.0/5 "Great!"
      I have got the Life insurance policy from the KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE company around 3years. This policy has the tenure of 12years . I pay the premium amount of Rs,1,00,000 per annum. I pay the premium annually, I pay it through online.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 05, 2018
    • Kotak Life Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am using Kotak Mahindra for past 7 years. I have taken a endowment policy. I used to pay Rs.30,000 per annum as a premium. I got the insurance papers on time. The total tenure period is 7 years. After the maturity period I will get the sum assured value.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 13, 2018
    • Kotak Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken Life insurance with LIC.The premium amount is 18,000.The policy is taken eight years back.The sum assured is 1.05 lakhs.The policy is for 15 years.I don't have claim experience with them.The plan name are benefits.I make online payments.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 10, 2018
    • Kotak Life Life Insurance
      "Average Service"
      0.5 3.5/5 "Pretty good"
      Kotak Mahindra Life insurance service is good. The payments procedure was been online and also through cheques. The new schemes and offers are good. I have one policy with Kotak Mahindra. It is a average service from Kotak Mahindra Life insurance service.
      Was this review helpful? 0
      , namakkal
      Reviewed on Mar 05, 2018
    • Kotak Life Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I got the LIFE INSURANCE policy from KOTAK LIFE around 2 years ago. The customer support service is good with the KOTAK LIFE, I pay the premium through ECS mode which is a easiest way to do pay the premium . I pay the premium of Rs,35000 annually. This policy has the tenure of 15years .
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 27, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 2.0/5 "Expected more"
      I am having the life insurance policy with the Kotak mahindra life insurance company. Customer service is good one for me with them and the coverage value is not aware by my end. Services are fine one with the Kotak mahindra insurance company.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 09, 2018
    • Kotak Life Life Insurance
      "Okay"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Kotak mahindra old mutual life insurance company. I would like to say that the customer service is okay one for me and the coverage value is not yet aware. Premium amount is nominal one for me with them.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 02, 2018
    • Kotak Life Life Insurance
      "Good Life Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a Child plan from them. I have been paying a premium of Rs.44000 annually for this scheme. When my child reaches the age of 8 and upto 15th year I will be getting Rs.44000 yearly as a return and also a good sum assured. This is a good investment I have made.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
    • Kotak Life Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I had taken a life insurance from Kotak Mahindra life Insurance .I pay a minimum premium amount its debited from my salaried account once in year.I get a good policy policy coverage amount.The executives do respond on time without much delay.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 12, 2018
    • Kotak Life Life Insurance
      "Dis satisfactory"
      0.5 3.5/5 "Pretty good"
      Earlier I had taken a life insurance with Kotak. It was taken for a limited period of 3 years since I had a financial problem and have been forced to close this insurance. After completing the 3 years, I had submitted back and the total amount was not satisfactory.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 30, 2017
    • Kotak Life Life Insurance
      "Wonderful"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Kotak mahindra old mutual life insurance company. Coverage value is good one with the Kotak mahindra old mutual life insurance company. Everything is fine one with the Kotak mahindra old mutual life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 30, 2017
    • Kotak Life Life Insurance
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Life Insurance with Kotak Mahindra Life.The premium amount is paid online or by an ECS.I get a policy coverage of 8-9 lakhs.I don't have a claim experience with them so far.I pay a premium amount of 62,000 per annum.The website is easy to understand and navigate.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 21, 2017
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